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Employee Benefits in Bulgaria 2017

Employee Benefits in Bulgaria 2017

Summary

The National Social Security Institute (NSSI) is responsible for managing all the social security schemes in the Republic of Bulgaria. It administers mandatory social security schemes such as sickness, maternity, occupational diseases, workplace accidents, disability, old-age and survivor’s pensions. Irrespective of whether a person is employed, unemployed or self-employed, Bulgarians are covered under certain social security schemes. In Bulgaria, the pension system is classified into four pillars: the pay-as-you-go (PAYG) public pension insurance scheme, which is mandatory; supplementary compulsory pension insurance, which is divided into the Universal Pension Fund and the Professional Pension Fund; voluntary pension funds; and voluntary occupational schemes regulated by the Institutions for Occupational Retirement Provision (IORP) directive. Voluntary occupational schemes are managed by pension fund companies.

The report provides in-depth industry analysis, information and insights of the employee benefits in Bulgaria, including: overview of the state and compulsory benefits in Bulgaria, detailed information about the private benefits in Bulgaria, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Bulgaria.

Key Highlights

  • State and compulsory employee benefits are mandatory. Old-age and survivor's pensions, unemployment, accident insurance, occupational disease insurance, family benefits and sickness care insurance are the main compulsory forms of cover.
  • Private pension benefits are classified as voluntary pension funds and voluntary occupational schemes.
  • The institutions and the activities of social security schemes are subject to mandatory regulation, which is implemented by the Council of Ministers and the Parliament in support with the representative organizations of employers and workers and other organizations of civil society.
  • Under the regulation of the Financial Supervision Commission, the operations of the second and the third schemes are administered by private insurance companies.
Scope
  • This report provides a detailed analysis of employee benefits in Bulgaria.
  • It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
  • It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Bulgaria.
Reasons to buy
  • Make strategic decisions using in-depth information related to employee benefits in Bulgaria.
  • Assess Bulgarian employee benefits market, including state and compulsory benefits and private benefits.
  • Gain insights into the key employee benefit schemes offered by private employers in Bulgaria.
  • Gain insights into key organizations governing Bulgarian employee benefits, and their impact on companies.


  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
  • Country Statistics
    • Table Bulgaria – Country Statistics
  • Overview of Employee Benefits in Bulgaria
  • Regulations
    • Table Bulgaria – Increase in Monthly Pension, 2009 2013
  • State and Compulsory Benefits
    • Table Figure 1: Bulgaria – Main Institutions of Social Security System
    • Retirement Benefits
      • Introduction
      • Eligibility
      • Age
      • Benefits
      • Payment Options
      • Employee and employer contributions
        • Table Bulgarian Retirement Benefits – First- and Second-Category Contribution
        • Table Bulgarian Retirement Benefits – Contributions by Self-Employed Individuals
        • Table Bulgarian Retirement Benefits – Third-Category Contribution
        • Table Bulgarian Retirement Benefits – Supplementary Compulsory Pension
      • Taxation
    • Death in Service
      • Introduction
      • Eligibility
      • Benefits
      • Employee and employer contributions
        • Table Bulgarian Death-in-Service Benefits – First- and Second-Category Contribution
        • Table Bulgarian Death-in-Service Benefits – Contributions by Self-Employed Individuals
        • Table Bulgarian Death-in-Service Benefits – Third Category Contribution
        • Table Bulgarian Death-in-Service Benefits – Supplementary Compulsory Pension
      • Taxation
    • Long-Term Disability Benefits
      • Introduction
      • Eligibility
        • Table Bulgarian Long-Term Disability Benefits – Groups of Invalidity
        • Table Bulgarian Long-Term Disability Benefits – Period of Insurance
      • Benefits
        • Table Bulgarian Long-Term Disability Benefits – Coefficient Factor
        • Table Bulgarian Long-Term Disability Benefits – Coefficient Factor (Non-Contributory Period)
      • Employee and employer contributions
        • Table Bulgarian Long-Term Disability Benefits – First and Second Category Contribution
        • Table Bulgarian Long-Term Disability Benefits – Contributions by Self-Employed Individuals
        • Table Bulgarian Long-Term Disability Benefits – Third Category Contribution
        • Table Bulgarian Long-Term Disability Benefits – Supplementary Compulsory Pension
      • Taxation
    • Short-Term Sickness Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Typical employer practice
      • Employee and employer contributions
        • Table Bulgarian Short-Term Sickness Benefits – Employer and Employee Contributions
      • Taxation
    • Medical Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Typical employer practice
      • Employee and employer contributions
    • Workmen's Compensation Insurance
      • Introduction
      • Eligibility
      • Benefits
        • Table Bulgarian Workmen's Compensation – Determination of Coefficient
        • Table Bulgarian Workmen's Compensation – Amount of Workmen's Compensation Insurance Minimum Pension, 2017
      • Payment option
      • Employee and employer contributions
      • Taxation
    • Maternity and Paternity Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Employee and employer contributions
        • Table Bulgarian Maternity and Paternity Benefits – Employer and Employee Contribution
      • Taxation
    • Family Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Taxation
    • Long-Term Care Benefits
      • Introduction
      • Eligibility
        • Table Bulgarian Long-term Care Benefits – Degree of Disability
      • Benefits
      • Payment Options
      • Taxation
    • Minimum Resources
      • Introduction
      • Eligibility
        • Table Bulgarian Minimum Resources – Determination of Differentiated Guaranteed Minimum Income, 2017
      • Benefits
      • Payment Options
      • Employee and employer contributions
      • Taxation
    • Unemployment Benefits
      • Introduction
      • Eligibility
      • Benefits
        • Table Bulgarian Unemployment Benefits – Duration of Insurance and Benefits Paid, 2017
      • Payment Options
      • Employee and employer contributions
        • Table Bulgarian Unemployment Benefits – Employer and Employee Contributions
      • Taxation
  • Private Benefits
    • Medical and Health Benefits
    • Other Benefits
  • Appendix
    • Methodology
    • Contact GlobalData
    • About GlobalData
      • Table Figure 2: About GlobalData
    • GlobalData's Services
    • Disclaimer

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